OVV vs QQQ: Correlation
How closely do Ovintiv Inc. (DE) (OVV) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.07, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OVV and QQQ?
Over the past 3 years, OVV and QQQ moved with a correlation of 0.07, which is near zero, meaning they move largely independently. The past 12 months show a weaker link (-0.40) than the 3-year average (0.07). Over 5 years the correlation is 0.16, and the annualized covariance of weekly returns is 49.3 %².
Among the 44 assets we track against OVV, QQQ sits near the bottom by co-movement, at rank #41. The last year tells two different stories: OVV led by 34.9 percentage points, +61.2% for OVV against +26.3% for QQQ. Risk is not evenly split, since OVV carries 1.9 times the volatility of the other side.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
OVV vs QQQ: side by side
| OVV (Ovintiv Inc. (DE)) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +61.2% | +26.3% |
| 5-year return | +175.7% | +95.4% |
| Volatility (ann.) | 36.4% | 19.6% |
| Beta vs S&P 500 | 0.43 | 1.28 |
| Max drawdown (3Y) | -42.2% | -22.8% |
| Market cap | $18.0B | – |
| P/E (trailing) | 18.0 | – |
| Dividend yield | 1.86% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | US Listed | ETF · US Growth & Tech |
QQQ is a Large Growth fund from Invesco: $452.8B under management, 104 holdings, a 0.18% expense ratio, a 0.44% trailing dividend yield.
Year-by-year returns
| Year | OVV | QQQ |
|---|---|---|
| 2022 | +53.3% | -32.6% |
| 2023 | -10.9% | +54.9% |
| 2024 | -5.2% | +25.6% |
| 2025 | -0.3% | +20.8% |
| 2026 | +68.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OVV and QQQ good diversifiers for each other?
Yes. With a correlation of 0.07, OVV and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between OVV and QQQ?
Using weekly returns as of 2026-08-27: 0.07 over 3 years, with -0.40 over the last year and 0.16 over 5 years.
Is QQQ a good diversifier for OVV?
Yes. With a correlation of 0.07, OVV and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.07 mean?
A reading of 0.07 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ovv-vs-qqq.json
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Related comparisons
Hubs: OVV correlations · QQQ correlations
